Market Turbulence Causes Trading App Glitches in Seoul

Market Turbulence Causes Trading App Glitches in Seoul

Brokerages in Yeouido, Seoul, experienced technical glitches as the stock market saw extreme volatility this week. The volatility was driven by the escalating conflict between the U.S. and Israel-Iran, leading to sharp market moves and subsequent technical issues in trading apps. Incorrect balance information was displayed, causing viral screenshots of unexpectedly high account balances among retail investors. These screenshots sparked confusion and disbelief, as many believed the balances were theirs, only to realize it was due to a system error. The glitch was attributed to delays in settlement processing caused by a surge in trading volume. Other brokers like Mirae Asset and Kakaopay also faced issues, with delayed alerts and order failures. The Financial Supervisory Service is now investigating the incidents to prevent similar problems in the future. Meanwhile, the benchmark KOSPI and Kosdaq indices experienced significant fluctuations, ending the week with mixed outcomes.